Small Savings Schemes: After the reduction in repo rate by the Reserve Bank, the rates of fixed deposits have started decreasing. The situation has reached this point. There are many small savings schemes. In which better returns are being received than FD. On an average, 7 percent interest is being received on fixed deposits.
Small Savings Schemes: Many people in the country choose the option of fixed deposit to earn big money. The reason for this is that there is no risk of any kind in it. But it is worth noting that there are some small savings schemes as well. Where you get a bigger return than FD. There is no risk of any kind in these government schemes as well. Last month, the repo rate was cut by the Reserve Bank of India. After this, many banks have reduced the interest rates of fixed deposits. At the same time, there has been no change in the interest rates of small savings schemes. In such a situation, small savings schemes are giving better returns.
We are going to tell you about some such government schemes, in which there is no risk of sinking money. The return is also much more than FD. An average of 7 percent interest is being given in fixed deposits. At the same time, under small savings schemes, 8.2 percent interest is available on Senior Citizen Savings Scheme. Public Provident Fund gives 7.1 percent annual return. In such a situation, small savings schemes can prove to be a better option for you than fixed deposits.
Kisan Vikas Patra
Kisan Vikas Patra is a savings scheme of the Government of India. At present, 7.5 percent interest is being given on this scheme. Its most special thing is that the amount invested in it doubles in 115 months i.e. 9 years and 7 months. This is also a safe investment option, which gives guaranteed returns. You can start investing in this scheme with a minimum of Rs 1000 and there is no upper limit.
In this too, tax exemption of up to Rs 1.5 lakh is available under section 80 C of the Income Tax Act, 1961. You can get more information about this by visiting the website of India Post and or the website of any bank.
Sukanya Samriddhi Yojana
Investors are getting interest at the rate of 8.2 percent in Sukanya Samriddhi Yojana. You can invest in this scheme by opening an account in the name of daughters below 10 years of age. In this, from Rs 250 to Rs 1.5 lakh can be deposited annually. This account can be opened by going to banks or post offices. The maturity period in the scheme is till the girl child is 21 years old or till her marriage after the age of 18 years. Under Section 80 C of the Income Tax Act 1961, it provides tax exemption of up to Rs 1.5 lakh.
Sukanya Samriddhi Yojana
Investors are getting interest at the rate of 8.2 percent in Sukanya Samriddhi Yojana. You can invest in this scheme by opening an account in the name of daughters below 10 years of age. In this, from Rs 250 to Rs 1.5 lakh can be deposited annually. This account can be opened by going to banks or post offices. The maturity period in the scheme is till the girl child is 21 years old or till her marriage after the age of 18 years. Under Section 80 C of the Income Tax Act 1961, it provides tax exemption of up to Rs 1.5 lakh.
Monthly Income Scheme (MIS)
Post Office Monthly Income Scheme can prove to be better. This scheme is for those people who want to earn regular money every month. It gives 7.4% annual interest. Which is given in your account every month. In this scheme, up to Rs 9 lakh can be invested for a single account and up to Rs 15 lakh for a joint account. This can prove to be a better option for regular income.
